TriSalus Life Sciences Secures Up To $50M Of Debt Financing With OrbiMed To Support TriNav Infusion System Growth Initiatives
Portfolio Pulse from Benzinga Newsdesk
TriSalus Life Sciences Inc. (NASDAQ:TLSI) has secured a debt financing deal with OrbiMed for up to $50 million to support growth initiatives for its TriNav Infusion System. The company received $25 million at closing, with an option for an additional $25 million based on revenue milestones. The funding aims to extend TriSalus's cash runway through 2025, support strategic expansion, and fuel growth without the immediate need for equity financing. The deal also includes a warrant for OrbiMed to purchase shares of TriSalus.
April 30, 2024 | 9:37 pm
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TriSalus Life Sciences secures a $50M debt financing deal with OrbiMed to support its TriNav Infusion System, with $25M received upfront and an option for an additional $25M. This deal is expected to extend the company's cash runway through 2025 and support strategic growth without the need for immediate equity financing.
The financing deal directly impacts TriSalus by providing significant capital to support its strategic growth initiatives, particularly for the TriNav Infusion System. The immediate funding of $25 million, with an option for an additional $25 million, alleviates short-term financial pressures and potentially reduces the need for dilutive equity financing in the near term. The inclusion of a warrant for OrbiMed to purchase shares at a set price also suggests a vote of confidence in TriSalus's future, potentially making this news positive for the stock price in the short term.
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